APEC spells out key targets for 2015 and beyond

President Benigno S. Aquino III delivers his speech during the Asia-Pacific Economic Cooperation (APEC) 2015 kick-off ceremony at The Eye Ballroom of the Green Sun Hotel in Pasong Tamo Extension, Makati City on Monday night (December 01). (MNS photo)

President Benigno S. Aquino III delivers his speech during the Asia-Pacific Economic Cooperation (APEC) 2015 kick-off ceremony at The Eye Ballroom of the Green Sun Hotel in Pasong Tamo Extension, Makati City on Monday night (December 01). (MNS photo)

MANILA (Mabuhay) — The Asia Pacific Economic Cooperation (APEC) has set key targets to be achieved next year and beyond.

Foreign Affairs Undersecretary Laura Del Rosario, the chair of the APEC 2015 Informal Senior Officials’ Meeting, has released key APEC targets for 2015 and in the succeeding years.

Among these targets include achieving free and open trade and investment based Bogor goals’ timetable, 10 percent improvement in the supply chain performance by 2015 in terms of time, cost and uncertainty using 2009 as base and meeting the goal of 25 percent improvement on ease of doing business next year in five priority areas. These areas are: staring a business, getting credit, trading across borders, enforcing contracts and dealing with permits.

Other targets also include tariff reduction on APEC List of Environmental Goods to 5 percent or less by 2015, having one million inter-APEC university students by 2020, reducing aggregate intensity by 45 percent by 2035 using 2005 as base year, and achieving universal broad band access in APEC region by 2015.

APEC member economies also target achieving convergence on regulatory approval procedures for medical products by 2020, increasing forest cover in the region by at least 20 million hectares of all types of forest by 2020, conserving at least 10 percent of coastal and marine areas through effective management of marine protected areas and other area-based conservation measures by 2010.

The trade bloc also has an inspiration goal of doubling the shares of renewable energy in the APEC energy mix in power generation from 2020 levels by the year 2030.

The Philippines hosts next year’s APEC summit under the theme “Building Inclusive Economies, Building a Better World.”

Organizers have just concluded the two-day ISOM in Makati City Tuesday. Participants will meet again in Clark, Pampanga on January 26 to February 7 next year. (MNS)

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